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Rich

Transferring a 403b to a 457

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Ms. Teacher in Ohio contributes to a 403b in her school district at company XYZ, an approved provider in her school district. She moves to Colorado and continues to teach. However, Colorado doesn't offer a 403b, only a  457 at company ABC Company.  Company XYZ is not an approved provider in her new district. Question: Can Ms. Teacher transfer her 403b in Ohio from company XYZ to a 457 in Colorado to company ABC?

Rich

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Rich, welcome to the forum. Yes, the IRS allows a 403b from a prior employer to be rolled into a 457b plan if the 457b plan allows it and the 403b balance is put in a separate account. The 403b balance can be invested in the 457b funds, but it remains a 403b. Colorado has a state low-cost 457b plan and hopefully that is where she wants to move her 403b balance. I'm confident that the CO 457b allows transfer of of 403b balances from prior employers.

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